Albir: A Multinational haven by the sea

Lying just a few short minutes from the hustle and bustle of Benidorm, Albir is a tranquil haven sitting on the coast between Benidorm and Altea. A true multinational town, people from all walks of life call this charming town their home and feel lucky to do so on a daily basis. Blessed with a beautiful micro climate with near on 300 days of sun a year, Albir gives its inhabitants a choice of lifestyle to suit most desires.

For those who love the sun and sea, Albir’s beachfront is the place for you! Lounge around soaking up the rays on the beach or jump in the warm water to cool down. Boats pepper the horizon and a long evening sail around the bay is the ideal way to relax and enjoy beautiful sunsets.

Just across the road from the beach lie a number of bars and restaurants to whet your appetite and tickle the taste buds. Relax overlooking the sea with a glass of what you fancy and just soak up the views. Speaking of views, no trip to Albir is complete without the famous Lighthouse walk! Standing proud atop the mountain, the walk up is one of the most enjoyable of the region, fully wheelchair friendly and the views at the top are worth the effort to go up.

For the sporty or just sport loving, Albir boasts its own Cricket Club and Golf course. Albir’s magnificent weather allows Cricket to be played from February to November with regular touring sides coming year on year to enjoy this wonderful spot. The golfers enjoy the ground most weekdays and weekend mornings practising their drives and have tournaments every month or so.

Albir also has a wide range of bars for the discerning patron! Opened in 2018, the Church Irish Bar has quickly become one of the best places to frequent in Albir thanks to its range of services. Live music, divine food from God’s Kitchen, full sports coverage…..and Guinness on tap makes this a special place to while away the hours. Many other bars provide different options – Live Sports, great food, hot music and friendly faces, Albir will have the place for you, anytime!

With it being so close to Benidorm, all the theme parks of the region are just a short drive so a day out can include Aqualandia, Benidorm’s crowning water park with a multitude of rides both gentle and terrifying! Terra Natura is a park with animal shows and regular feedings. Aqua Natura, another waterpark linked to Terra Natura to allow the best of both worlds. Terramitica is a theme park with rollercoasters, water rides et al so there is never a dull moment around the area.

With beautiful designer homes overlooking the sea, multinational citizens giving the area a vibrant feel, and a wide range of choices to enjoy night and day, as the local Cricketers might say, I don’t like Albir, I love it! With an amazing online community in the Facebook page of “We Albir” you will never be lonely again!

If you are interested in viewing any of our properties in this delightful town, do not hesitate to contact us today, they don’t hang around long and the only regret people ever have here is that they did not come sooner!

Due to the incredible demand for this town, a new development is starting construction in 2021 bringing a whole new beautiful dynamic to this incredible town.

Pennickblackwellproperty, getting you the Spanish house of your dreams

Altea: The Artist’s paradise

Generally regarded as one of the most picturesque towns in Spain, Altea is nestled a short way along the coast from its polar opposite neighbour Benidorm. While only a few kilometres apart, the differences could not be more dynamic!

While Benidorm has the nightlife and the hustle and bustle of a city, Altea is a jewel in the coast where whitewashed buildings and the sun glinting off the sea are some of the most recognisable aspects of this charming town.

People can happily get lost wandering the streets of Altea, winding in and around the picturesque houses and curving cobblestone streets, stopping along the way to sample some quaint, Spanish shops and tapas restaurants.

Moving on to the heart of the town, the church square is where Altea really cements its reputation as a beautiful, artist’s paradise. The iconic Church with its famous Blue and White tiled roof towers above a square that is replete with beautiful bars, stunning views and picturesque portals for the perfect snap!

Outside of the historic square, Altea also boasts a wonderful harbour with many residents availing of the near year round calm waters to enjoy a different side of life on their boats. There are not many better feelings that an early evening cruise around the harbour on a boat, the wind in your hair and the sea at your beck and call, add in a picnic hamper and you are set for wonderful, long sunny evenings.

Also, boasting a wealth of wonderful restaurants to treat you to any kind of food your heart desires, from typical Spanish specialties to steaks and pizzas, you will be spoilt for choice in this wonderful town!

If you are interested in viewing any of our properties in this delightful town, do not hesitate to contact us today, they don’t hang around long and the only regret people ever have here is that they did not come sooner!

Pennickblackwellproperty, getting you the Spanish house of your dreams

The Spanish “GOLDEN VISA” – Your way into Europe in a post Brexit world!

Since the turn of the New Year, many people have been coming to terms with the ramifications of Brexit and what it means on the Continent. From lighter stories of hijacked Ham Sandwiches to the considerable doubt of what it means to people looking to make the age old move abroad, countless questions and problems have arisen since January 01st.
An often overlooked method, considering for many it was never needed before, is the Golden Visa route into Spain, and furthermore all of Europe and the Schengen bloc. Bypassing all other requirements (within reason) the Golden Visa can speed up your application to live and work legally in Spain, or just have to right to move freely through Europe without any “Non-EU” headaches. Initially brought in to attract non EU investors when the property market was suffering, Brexit issues have shone a new light on this route to Spanish Sun. With about 25,000 Visas granted since Inception, it is a well-used and viable route into Europe.

 

HOW TO GET A GOLDEN VISA:
While it’s not going to be found in a Wonka Bar, it’s much simpler than the task that befell poor Charlie and Grandpa Joe! The easiest (and cheapest) way of getting a Golden Visa, since its introduction in 2013 is to have property holdings of € 500,000 or more. A common misconception is that you have to buy a property worth € 500,000 or more but it allows all property holdings to be combined. A mortgage can be counted only when it supplements the previously named figure, ie – You can buy a € 600,000 property with a mortgage of less than € 100,000 once you meet the magic figure from your own funds.
Alternatively, you can buy a number of lesser properties, as long as their joint value passes the figure of € 500,000, and apply for the Golden Visa. As there are no specific requirements to living in the property you buy, you can legally rent out any and all properties you purchase for the Golden Visa as well.

WHAT IS MY RESIDENCY STATUS WITH A GOLDEN VISA:
The Golden Visa does not automatically grant you lifetime rights to live in Spain which must be noted.
Applying for, and receiving the Golden Visa grants you a Residence Permit for 2 years. As long as you still have your property, or property portfolio over the required € 500,000 mark, your residency can be renewed for 5 years. This 5 year residency permit can then be renewed every 5 years indefinitely.
The beauty of this is that you don’t actually have to be residing in the country to benefit from the advantages of a European Citizen. The only current way your residency would not be renewed would be if your property holdings fell below the € 500,000 mark, if you are not resident.
This allows you the choice of either remaining in your home country but being allowed travel or work throughout Europe as a resident would, or live in Spain or any other European Country as long as you visit Spain once every 5 years to renew your residency permit.

Family members can allow benefit from the Golden Visa as they can be assigned to your application, including spouse, children under 18 (over 18 with specific conditions) and dependant parents.

BENEFITS OF A GOLDEN VISA:

  • The Golden Visa brings with it a wealth of benefits for the possessor depending on what you wish to have it for –
  • A way to get into Spain, Europe or the Schengen Bloc legally and easily with all the benefits of European travel.
  • No need to actually live in the country you are buying in, but free travel and residency allowed.
  • No need to become fiscal resident in the country you are buying so no need for a tax return in Spain.
  • Helps cut Red Tape in regards to obtaining residency should that be your goal.
  • Allows rental income on properties purchased.
  • 20 working day timeframe to obtain once all requirements are satisfied.

 

REQUIREMENTS FOR A GOLDEN VISA:

  • Obviously, as with anything, there are requirements to obtaining what you want and a golden visa is no exception, but not overly complicated. A lawyer can help you with everything you need quite easily but
  • some of the basic requirements are –
  • Spanish NIE number in order to buy a property must be obtained
  • No Criminal Record
  • Have a Health Insurance Policy that covers Spain
  • Payment of the fees relative to applying for the Visa
  • Property Portfolio over € 500,000 bought from own fund

The Property ladder – A great investment, done right

We have been getting a lot of interest and requests since the great Lockdown of 2020 along the lines of – “Should I buy an investment property in Spain?”

Now, as you can appreciate, a short blog is not the place to get a definitive answer to such a complicated question but we would like to give some general information to think about before you invest, or before you even start looking!

As a “Spanish” landlord, what would you be looking for? This is a more pertinent question in sunnier climes than back home. Do you want rapid turnover of occupancy (holiday rentals or Winter Lets) or a long term rental? This is the foremost question you need to consider as it will shape your whole purchase and investment scenario. If you are looking for a property that will be desirable for the holiday market and rent it on a weekly, monthly or slightly longer basis, are you willing to accept the extra cost that will come with this type of rental? Changeovers, cleaning, perhaps damage or no shows?

If you are looking at the long term market, will you be a “hands on” landlord or enlist the services of an agent to save you late night calls from irate tenants? Also ensure you check your potential tenants carefully as they could be in your home for a long time, hopefully happy and healthy!

Also, remember the added payments that a tenant will not cover? Community fees, damages and replacements to the fixtures and fittings? The advantage on this however is that a lot can be claimed back in your tax return so it is a valid investment strategy, provided you get the right tenants.

Property rental can be a very, very lucrative venture if you approach it in the right way and you are fully informed from the off. If you know what you are getting into and get the right management team to monitor it for you, then profit is what you can hope to achieve, however, if you approach it in the wrong way and hope for the best, your money will be filling a never ending pit that will cost you a lot more in the long run.

A good example we have experienced is a property owner who moved from their apartment and rented it out to a family who have been there 10 years. An apartment that cost € 100,000 has already generated € 50,000 for the owners in rental income. Taking out the costs mentioned above, the property is still making money yearly.

If you are interested in either buying a property to rent or looking to rent, either long or short term a property you already own, contact us for a no obligation, free chat to see how well it can work for you.

Rent to Buy – A helpful boost onto the Property Ladder

The Property Ladder is one of those, at times, seemingly impossible barriers to overcome with prices of houses always seeming to rise when you are looking to buy, but never rising fast enough when looking to sell! Many people we speak to bemoan what they see as “Dead Money” when renting a property. Often when you are renting a property you pay more per month on rent than you would on a mortgage but it does not benefit you or go towards your own home.

When buying a home, a big hurdle, the hardest rung on the Property Ladder, is getting the deposit together along with the end costs which on even a property worth € 150,000 can add up to an amount of about € 50,000, not even taking into account Notary fees and the cost of furnishing.

However, at Pennick Blackwell Property, we have been introducing our clients to a great alternative in order to get on that all important first rung of the Property Ladder – Rent to Buy.

Imagine knowing that when you are paying your monthly rent, it is going towards buying your house rather than just lining the pockets of someone else? As you live in your rented accommodation, you know that the house can be yours in a few short years rather than wondering if you can ever get enough saved for the deposit, fees and furnishings! If the bank of Mom and Dad can no longer assist, the rent to buy fairies just may have an answer.

Rent to Buy is not a complicated scenario or an expensive one for the right buyer. Instead of having to pay a deposit of maybe € 35,000 when buying a home, you could put down a deposit of half that amount and rent the property for 1, 2 or 3 years.

All the rent you pay, and the deposit, come off the initial agreed sale price so after a few years renting, your €150,000 house is reduced to € 120,000 for example, making a mortgage easier to obtain, making the rent you paid for years count for something and making you the happy owners of your own home.

Of course, like anything, Rent to Buy has its issues and dangers. If the owner decides not to sell, they have to return your deposit, doubled but you have lost out on your option of a home. The risk is there for the owners as well if you don’t pay your rent so both parties know they are relying on each other.

But there are great advantages as well! In uncertain times an owner can get someone in their property to make sure it is not standing idle and at risk. Steady income can come in and a sale is something on the horizon once the term ends. Buyers get the advantage of their rental payments counting for something and ease their mortgage demands when it comes to applying.

All told, a Rent to Buy option can be very advantageous to people who want to make their rental income count for something, giving you the option to save towards the house you love while making use of it on a daily basis… sounds like a great deal!